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The Nauticus Exchange- Binance’s Consolidated Competitor

 

It’s always: don’t miss out on this once in a lifetime opportunity, both on television advertisements and in the ICO space.

 

This week, Cointelegraph published a press release about the Nauticus Exchange that had the typical phrasing of it being the next big thing as well as one to rival the greats, which in this case means, Binance.

 

With quotes like “the stunning trajectory of BNB demonstrates that exchange house tokens have great utility value,” followed by a connection with the upcoming ICO of the new Nauticus Exchange, it is quite clear who Nauticus is positioning itself as a substitute for.

 

The central question is: following their ICO, can they deliver on being essentially, a better Binance?

 

To attempt to determine this, let’s look at the facts as they stand right now.

 

To begin, both the Binance Coin (BNB) and the Nauticus Coin (NTS), appear to be very much the same. The same press release that was mentioned above states that Nauticus Coin was modeled after Binance Coin and also provides users with a 50% discount on the exchange’s trading fees.

 

As far as its initial offering, the Nauticus Exchange will launch in August with 100 cryptocurrencies as well as seven fiat currencies.

 

Binance, on the other hand, is already offering over 300 trading pairs.

 

At this time however, they do not currently offer anything close to fiat currencies, beyond the disputed Tether and similar crypto tokens.

 

Coupled together with the fact that Nauticus will apparently offer fiat trading options before Binance will is the fact that they will be giving users a 50 percent discount on trading fees during the same month that BNB’s discount drops to 25 percent.

 

When this is considered, it is reasonable to assume that Nauticus will attract customers who are disgruntled with their loss of benefits with Binance.

 

With the Nauticus ICO ending on July 18th and the exchange already reportedly having 468,000 hopeful, future users, the exchange’s leadership seems to be hoping that their platform will become a one-stop shop for crypto investment needs, as said in the same Cointelegraph piece which has been referenced above.

 

Due to the fact that risks related to Nauticus include its status as a newcomer as well as its smaller set of trading pairs, it remains to be seen whether the trading fee discounts as well as the fiat options will sway consumers to its platform above all others.

 

 

 

By: BGN Editorial Staff

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